ATLANTA — Simpson Housing LLLP has acquired The Residence Buckhead Atlanta, a 370-unit, high-rise apartment complex located in the Buckhead neighborhood of Atlanta, for $136.5 million.
OliverMcMillan developed the property in conjunction with the company’s 300,000-square-foot mixed-use project, Buckhead Atlanta. The Residence encompasses two 20-story towers featuring a resort-style pool, fitness center, theater, study, conference room, demonstration kitchen and concierge service.
The Buckhead Atlanta mixed-use development, located just around the corner, is largely focused on high-end fashion. Tenants include Hermès, Christian Louboutin, Tom Ford, Jimmy Choo, Warby Parker, Diptyque, Brunello Cucinelli, Flywheel, Doraku Sushi, Gypsy Kitchen, Le Bilboquet, The Southern Gentleman and Shake Shack. The project also contains 100,000 square feet of boutique office space serving as the corporate headquarters for Spanx Inc.
Jason Nettles, Trey Morsbach and Megan Thompson of HFF represented the seller, OliverMcMillan, in the transaction. HFF previously worked on behalf of the developer to arrange construction financing for the project in 2013.
OliverMcMillan has designed and developed more than 8 million square feet of projects, and currently has approximately $3 billion under development.
Simpson Housing LLLP is a privately held developer and manager of residential properties throughout the U.S.
— Katie Sloan